International & Reinsurance News

Ki Enters Partnership With Beazley, Expanding Capacity for Digital Follow Syndicate

Ki, the digital and algorithmically driven Lloyd’s syndicate, announced a partnership with Beazley whereby Ki will offer additional follow capacity from Beazley syndicate 2623/623 through its digital platform from April 2, 2024. Ki said this is another major milestone in …

Institutional Investor GIC Finalizes Acquisition of Insurance Broker Miller

Miller, the London-based independent specialist re/insurance broker, announced that GIC, Singapore’s sovereign wealth fund, has completed the acquisition of Cinven’s shares in Miller. GIC and private equity firm Cinven acquired Miller in 2021 from Willis Towers Watson. Since then, Miller …

Fidelis Partnership Gets ‘In Principle’ Approval From Lloyd’s to Launch Syndicate

The Fidelis Partnership, the Bermuda-based managing general underwriter, announced that Lloyd’s has granted “in principle” approval for the launch of Syndicate 3123 in collaboration with Fidelis Insurance Holdings Ltd. and Hampden Agencies, the largest provider of private capital to Lloyd’s. …

UK Court Rules That $10 Billion Jet Dispute Should Be Heard in London, Not Moscow

A $10 billion battle between reinsurers and aircraft leasing companies seeking payouts for more than 200 jets stuck in Russia should be heard in London rather than Moscow, London’s High Court ruled on Thursday. Aircraft lessors, including Ireland’s AerCap and …

Baltimore Bridge May Trigger Historic Marine Loss, Lloyd’s of London Says

Insurance payouts for Tuesday’s collapse of the Francis Scott Key Bridge in Baltimore could be among the largest ever in marine insurance, according to Lloyd’s of London Chief Executive Officer John Neal. “This has the potential to be one of …

Lloyd’s of London Swings to $13.5 Billion Profit in 2023

Lloyd’s of London swung to a pre-tax profit of 10.7 billion pounds ($13.51 billion) in 2023, the commercial insurance market said on Thursday, boosted by strong underwriting and investment performance. The insurance market, which has more than 50 member firms, …

Update: Foreign Firms’ Losses From Exiting Russia Top $107 Billion

The corporate exodus from Russia since its 2022 invasion of Ukraine has cost foreign companies more than $107 billion in writedowns and lost revenue, a Reuters analysis of company filings and statements showed. The volume of losses have increased by …

People Moves: AXA XL Promotes Cole to Global Chief Underwriting Officer for Marine; DUAL’s Specialist Motor MGA KGM Names Astin as Managing Director

This edition of International People Moves details appointments at AXA XL and DUAL’s specialist motor MGA KGM. A summary of these new hires follows here. AXA XL Promotes Cole to Global Chief Underwriting Officer for Marine AXA XL has promoted …

Canada’s Desjardins Acquires Insurance Company of Prince Edward Island

Canada-based Desjardins, through its subsidiary Desjardins General Insurance Group Inc., and ICPEI Holdings Inc. announced they have entered into definitive agreements for Desjardins to indirectly acquire all of ICPEI’s issued and outstanding shares. ICPEI Holdings operates The Insurance Company of …

Fires From 2023, Smoldering Under Snow, Reveal Canada’s Dangerous New Reality

As skiers glide down the slopes of British Columbia’s Whistler Mountain and ice fishers drop their lines into frozen lakes in Alberta, dozens of the fires whose smoke darkened North America’s skies last year are still burning — with some …

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